Accountant Malpractice and Legal Malpractice

Carbtex Marketing Universal, Inc. v. Major Law Firm

Young & Susser successfully defended a major law firm on a claim of legal malpractice arising from a failed merger transaction. Plaintiffs sought $15 million and Young & Susser obtained a no cause on plaintiffs' claims and won a $24,000 verdict on a counterclaim.

MCA v Grant Thornton et. al.

Young & Susser successfully defended an accounting firm against allegations of accountant malpractice in a series of cases stemming from the audit of MCA Financial Corporation, a mortgage banker. Bodman, Longley represented MCA.

The basis of the charges was that the accounting firm had failed to spot MCA's fraud. The accounting firm responded that MCA's fraud had been calculated to deceive the accounting firm and, consequently, there could not be and was not any negligence on the part of the accounting firm. Young & Susser successfully defended the accounting firm on six separate occasions in state and federal court on six separate occasions. The success at the trial court level was duplicated by requested appellate victories.

Chase Bank v Grant Thornton, et. al.

Young & Susser successfully defended an accounting firm against allegations of fraud by Chase Bank and Paine Webber. Cadwalader, Wickersham & Taft of New York represented Paine Webber, and Honigman, Miller, Schwartz and Cohn represented Chase Bank.

Young & Susser succeeded in having the complaints of both Chase and Paine Webber dismissed. Chase Bank appealed to the Michigan Court of Appeals and Supreme Court and Young & Susser prevailed in both venues. Consequently, all charges in these multi-million dollar lawsuits against the accounting firm were dismissed.

Colton v Major Accounting Firm

A disgruntled real estate investor sued a major accounting firm for malpractice as it related to three review engagements. The plaintiff claimed $12 million as a result of the ultimate collapse of a real estate company in which he held a major interest. After a five-week trial, the jury entered a no cause of action against the plaintiff.

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